Business

California real-estate firm buys another Triangle apartment complex

April 8, 2014

(The News & Observer, Raleigh)

Irvine, Calif.-based Passco Companies bought the 270-unit Carrington at Brier Creek apartment complex in Raleigh for $37.3 million. Passco bought a 280-unit Durham complex in July 2013 and also recently purchased a 246-unit apartment community in Raleigh. 

U.S. Forest Service to increase recreation fees at NC national forests

April 8, 2014

(Asheville Citizen-Times)

Beginning May 7, the U.S. Forest Service will increase recreation fees at seven sites in the Nantahala, Pisgah, Uwharrie and Croatan national forests. 

 

Charlotte ranked fifth-worst for sprawl

April 7, 2014

(The Charlotte Observer)

The Charlotte-Gastonia-Rock Hill, S.C. area was ranked No. 5 on a list of most sprawl-prone metropolitan areas in the nation. Smart Growth America ranked the Charlotte area 25th overall out of 221 metro areas and 994 counties included in the report.

Former Harris Teeter CEO named chairman of The Pantry

April 7, 2014

(The News & Observer, Raleigh)

The Pantry has named the former chairman and CEO of Matthews-based Harris Teeter as chairman of its board of directors. Thomas "Tad" Dickson replaces Edwin Holman, who was ousted last month after a group of dissident shareholders elected three new candidates to the convenience-store chain's nine-member board.

 

APAC to add 500 customer-service jobs in High Point

April 7, 2014

(High Point Enterprise)

APAC Customer Services Inc. will hire 500 full-time workers at its High Point service center by July. The outsourcing company says the call-center positions will provide service for a telecommunications company. 

Dredging to improve port prospects at Morehead City

April 7, 2014

(Carteret County News-Times)

The U.S. Army Corps of Engineers will begin dredging in Beaufort Inlet today. The $7.9 million project will allow ships leaving the N.C. Port of Morehead City to carry more cargo by increasing the channel's depth to 43 feet. Sand removed from the inlet will be moved to beaches along Bogue Banks. 

Charlotte tourism official mentioned in Cannon affidavit

April 7, 2014

(The Charlotte Observer)

Mohammad Jenatian, president of the Greater Charlotte Hospitality & Tourism Alliance and supporter of many of the city's high-profile development projects, introduced then-Mayor Patrick Cannon to an undercover FBI agent in 2010 when the agent was investigating other people.

 


Read more here: http://www.charlotteobserver.com/2014/04/05/4820231/tourism-advocate-jenatian-introduced.html#storylink=cpy

IPO delayed for Durham-based Scynexis

April 7, 2014

(The News & Observer, Raleigh)

The initial public offering for Durham drug-development firm Scynexis has been pushed back. Media outlets report the company could go public this week or the week of April 14. Scynexis announced last Thursday it expected to sell its shares at a lower price than originally announced. 

NCDOT to create 24-county free trade zone in Eastern NC

April 7, 2014

(Greater Wilmington Business Journal)

The N.C. Department of Transportation announced last week the creation of a 24-county free trade zone in Eastern N.C. that includes New Hanover, Brunwick and Pender counties. The zoning will enable companies designated as FTZ sites to defer duty taxes on products until the products leave the zone.

Lenovo buying NEC patents

April 7, 2014

(The News & Observer, Raleigh)

Lenovo is buying a portfolio of more than 3,800 smartphone-related patent families from Japanese technology company NEC for an undisclosed amount. The purchase, along with a $100 million deal announced last month to buy a group of patents from Nevada-based Unwired Planet, will help protect Lenovo against patent lawsuits from competitors as it grows its smartphone business.